Peyton Manning's 14-year career as a member of the Indianapolis Colts is coming to an end.

Sources close to the team told ESPN senior NFL analyst Chris Mortensen that the announcement will come at a news conference in Indianapolis on Wednesday with both Manning and owner Jim Irsay in attendance.

The decision to pass on the $28 million bonus owed Manning and not to pick up the four remaining years on his contract means Manning will become a free agent, and sources told Mortensen that he intends to continue to play.

Free agency begins March 13, but Manning can sign with a team as soon as he is officially released. The Colts have until 4 p.m. ET on Thursday to make the transaction official.

Irsay and Manning's agent, Tom Condon, did not immediately respond to messages left by The Associated Press. Team spokesman Avis Roper said he could not confirm the decision or the news conference because Irsay was out of town and unreachable.

The four-time league MVP missed the entire 2011 season after having his third neck surgery in 19 months, a fusion of two vertebrae. Manning, who turns 36 later this month, has been medically cleared to resume his career and has increased his throwing regimen.

To that end, Manning conducted an aggressive throwing session in his Colts helmet, shoulder pads and jersey at Duke University on Friday, a source in attendance told ESPN's Mortensen.

Manning could be seen in a video clip posted late Friday on YouTube, independently verified as authentic, making apparent encouraging progress in his recovery from the surgery that sidelined him for all of last season. He could also be seen completing passes in the video posted by a user who had access to a videotaped portion of the session near the Duke practice field.

Sources at Duke and close to Manning confirmed he has been conducting aggressive throwing sessions in shoulder pads and helmet since Tuesday at Duke, where his former University of Tennessee offensive coordinator David Cutcliffe is now the head coach. It was Manning's second trip to work under the supervision of Cutcliffe.

Several sources have told ESPN during the past month that Manning's throwing strength has dramatically improved as his nerves continue to regenerate following his latest neck surgery Sept. 8. Dr. Robert Watkins, who performed the single-level cervical fusion, has stated publicly that he has cleared Manning to resume his playing career.

But the Colts are rebuilding and over the past two months, Irsay has fired vice chairman Bill Polian, coach Jim Caldwell; most of Caldwell's staff and general manager Chris Polian, Bill's son. The Colts also have the No. 1 overall pick in April's draft and are likely to draft former Stanford quarterback Andrew Luck or former Baylor quarterback Robert Griffin III.

A former No. 1 overall picks himself, Manning has broken all of Indianapolis' career records for quarterbacks since being drafted out of Tennessee in 1998. He's taken the Colts to the playoffs 11 times, captured seven AFC South titles in eight years, won two AFC championships, one Super Bowl title and a Super Bowl MVP Award.

But in 2009, after Manning brought the Colts to the cusp of history with a 14-0 start, the bad started to overshadow his lengthy resume.

The Colts pulled their starters against the New York Jets and lost the final two games that season. Indy then wound up losing to New Orleans in the Super Bowl. During the offseason, Manning had the first of his neck surgeries.

Then, after making an early playoff exit in the 2010 season, Manning underwent another neck surgery to repair a damaged nerve that was causing weakness in his throwing arm.

Last July, Irsay signed Manning to a new five-year, $90 million contract extension that everyone expected would keep Manning in Indy for the rest of his career.

But when the nerve did not heal as quickly as anticipated, Manning had two vertebrae fused together in September, a surgery that forced him to miss the first game of his career.

It's a sad way to end a brilliant run. If he can play some team (rumor says it's likely Miami) will have a shot at a great veteran QB.

_________________

March 6th, 2012, 9:17 pm

kdsberman

League MVP

Joined: February 20th, 2007, 10:51 pmPosts: 3485Location: Saginaw, MI

Re: Colts to release Peyton Manning

This has got to be one of the most interesting off-seasons in quite some time.

March 6th, 2012, 10:05 pm

Pablo

RIP Killer

Joined: August 6th, 2004, 9:21 amPosts: 9898Location: Dallas

Re: Colts to release Peyton Manning

kdsberman wrote:

This has got to be one of the most interesting off-seasons in quite some time.

Really? I think last year was much more interesting with the CBA issue, the draft before FA, the shortened FA frenzy - now that was interesting. This year seems like back to biz as usual to me.

This has got to be one of the most interesting off-seasons in quite some time.

Really? I think last year was much more interesting with the CBA issue, the draft before FA, the shortened FA frenzy - now that was interesting. This year seems like back to biz as usual to me.

Id call last year more depressing than interesting.

March 7th, 2012, 1:09 pm

49ers

Varsity Captain

Joined: October 12th, 2011, 9:00 amPosts: 289Location: Vermont

Re: Colts to release Peyton Manning

Hall of Famer QB with tread on his tires. He will want to play for a quiet coach, and a contender of a team. I head Texans this morning, and omg wouldn't that just be awesome. He would play on a good team (borderline great), that's in the same division as the Colts, for a semi-quiet coach. Perfect fit.

Not long before Wednesday’s PFT Live, a league insider with a good understanding of how business gets transacted pointed out a dynamic that, in hindsight, I’m a little embarrassed I didn’t think of myself.

When picking the next place where Peyton Manning will play, a potentially significant factor arises not from Peyton’s preferences or priorities but from the stable of clients represented by CAA, the agency that represents Manning.

CAA handles many athletes and coaches. (The mega-firm even represents some NFL reporters who, coincidentally, know a thing or two about CAA’s football clients.) And CAA will naturally be inclined to steer Peyton away from teams where another CAA client currently serves as the starting quarterback.

For starter, consider the 49ers. Alex Smith is the quarterback. He apparently wants to stay. The 49ers apparently want to keep him. There’s no evidence of a strong demand for his services on the open market.

And he’s represented by CAA.

So even if it makes sense for the 49ers to make a play for Manning, CAA won’t want to see that happen, if the end result is one less CAA client serving as an NFL starting quarterback.

Ditto for the Denver Broncos. When Jimmy Sexton joined CAA last year, he brought Tim Tebow with him. If the Broncos were to add Manning, Tebow would be bumped to the bench, or worse.

Of course, Peyton Manning can be a lot more persuasive and/or insistent than most clients. If he wants to go to San Francisco, he’s going to San Francisco, regardless of what it means for Alex Smith.

Still, the agent serves as the first point of contact, and the agent has plenty of control over who gets a seat at the table. Though it’s hardly the main factor, it’s definitely one of the various things that will go into the broader decision as to where Manning will play in 2012 and beyond.

As much as I hate to admit it I think the Brett Favre saga was more "interesting." The Colts cutting Manning really isn't that big of a deal. It's the smart thing for them to do for their salary cap and future. The real drama, IMO, is going to come when we're figuring out of Manning can play next season, and where he will play next season. If it is somewhere like Houston, it will get very interesting.

March 7th, 2012, 4:36 pm

TheRealWags

Modmin Dude

Joined: December 31st, 2004, 9:55 amPosts: 12488

Re: Colts to release Peyton Manning

PFT wrote:

Peyton Manning’s camp has already heard from 12 teamsPosted by Michael David Smith on March 8, 2012, 6:48 AM EST

NFL teams are wasting no time in declaring their interest in free agent quarterback Peyton Manning.

Of the NFL’s 32 teams, 12 of them contacted Manning’s representatives in the hours after the Colts made his release official, ESPN’s Adam Schefter reports.

Among the teams that have reportedly reached out are the Cardinals, Seahawks, Broncos, Dolphins, Redskins, Titans and Jets. At least five other teams that are keeping their intentions quiet for now have also privately reached out.

Manning said there is no favorite because he has had no time to start looking ahead, but that he expects that process to start soon.

“I literally have not had one conversation with anyone about these teams,” Manning told reporters upon arriving in Miami. “But now I realize that process has to start. I haven’t thought about teams.”

The process will include Manning showing teams that he can throw, perhaps at individual workouts or perhaps at a pro day-style workout that every team is welcome to attend. While Manning said on Wednesday that his throwing is improving, he didn’t say it’s back to where it was before last year’s neck surgeries. So it’s not clear whether he’s ready to throw for teams now.

My guess would be one of the following (in no particular order):Arizona - Manning to Fitz!?!?!Seattle - Manning / Wayne package deal?Miami - Already has a home there & they're closeJets - Would he want to 'share' New York w/Eli? Would / Could he work w/Ryan???

Joined: October 20th, 2004, 4:16 pmPosts: 10398Location: Where ever I'm at now

Re: Colts to release Peyton Manning

TheRealWags wrote:

So, where will Peyton go?

My guess would be one of the following (in no particular order):Arizona - Manning to Fitz!?!?!Seattle - Manning / Wayne package deal?Miami - Already has a home there & they're closeJets - Would he want to 'share' New York w/Eli? Would / Could he work w/Ryan???

I personally think he'll go to Miami. Aside from it being his home, he has some pretty good targets to throw to down there, has a solid LT, and a new coach that he can influence. I don't know how Miami is fixed for cap space, but it is the most sensible destination outside of that. Their defense isn't bad, and getting the QB situation resolved would allow them to dedicate most of their draft on that side of the ball, outside of needing a RT.

Washington has no receivers, and a scatterbrained owner. Their offensive line is sort of in shambles. They aren't even close to being a playoff team.

Arizona, I believe, is in the running, but they just spent a boatload and picks to get Kevin Kolb. I think that combined with some other hefty contracts on their books limits their ability to offer him the kind of deal he wants.

Seattle...don't think so. No receivers, decent offensive line, but I just don't see Peyton meshing well with Pete Carroll. Also, they have some issues on defense that will make becoming a playoff team an issue, let alone a SB team.

Jets...again, I don't think so. I don't think Rex is ready to give up on Sanchez just yet, but I agree he'll not be the QB to take them over the hump. Manning would be. However, after their failed experiment with Favre in NY, they are probably a little gun shy about signing a vet QB at big coin who is not as healthy as can be.

And New Orleans?! Wow, haven't heard that one. I can't imagine them franchising Brees, trading him elsewhere, and signing Manning. Brees is firmly entrenched as the savior in that town, not Peyton or Archie Manning. I think it would be a PR nightmare for the team, beyond what they are already experiencing. Talk to any Saints fan, and they say the whole bounty thing is overblown and their boys did no wrong. They are in denial. I have a feeling they'll work out a deal with Brees before the season starts.

_________________I will not put on blinders when it comes to our QBs performances.

March 8th, 2012, 11:39 am

TheRealWags

Modmin Dude

Joined: December 31st, 2004, 9:55 amPosts: 12488

Re: Colts to release Peyton Manning

PFT wrote:

Report: Peyton will pick team within week, prefers AFC to NFCPosted by Josh Alper on March 8, 2012, 10:18 AM EST

Peyton Manning said Wednesday that he hadn’t started thinking about his next team before officially being released by the Colts, but a report from Adam Schefter of ESPN makes it seem like someone in his camp has been looking ahead.

Schefter reports that Manning will pick his 2012 team within the next week and that he has a preference to remain in the AFC over heading to the NFC. Both make a lot of sense.

Choosing a new home quickly would allow the chosen team to figure out the cap implications in time to jump into free agency without losing out on potential targets while waiting for Manning to decide. If there’s a need to massage the roster to create cap room or to make a move involving a quarterback presently on the roster, it can be done swiftly with an eye toward making other moves to bolster the roster around Manning. The only rub to that scenario is that Manning still needs to show teams how well he can throw.

As of now, there are now known workouts scheduled with any teams interested in making a play for Manning nor is there an open workout for any and all teams to attend. It’s hard to imagine any team making a deal with Manning based only of off the video from Duke or secondhand reports about his fitness. This issue can be taken care of quickly, though, and, assuming Manning can throw well, it wouldn’t take long to go from workout to contract if Manning is dead set on playing for that team.

The AFC over NFC preference makes sense from the standpoint of Manning’s familiarity with the conference as well as the fact that there appear to be more teams in the AFC that could thrust themselves into contention by acquiring a healthy and productive Manning. With the 49ers remaining steadfast in their commitment to Alex Smith, the other NFC teams thought to be in the mix would still have to deal with a strong group of contenders returning more or less intact. The AFC has good teams too, of course, but a Manning acquisition might do more to swing the balance of power on that side.

Id be willing to put money on it that itll be Houston or Miami. If he wants to have a great shot at a SB year one, he'd go to Houston.

March 8th, 2012, 8:54 pm

m2karateman

RIP Killer

Joined: October 20th, 2004, 4:16 pmPosts: 10398Location: Where ever I'm at now

Re: Colts to release Peyton Manning

the question is, how serious is Houston about getting him? They made it into the playoffs with their third stringer leading the charge. Their top receiver was hurt most of the year, as was their top pass rusher.

I agree that if Manning wants an immediate SB contender, he'd go with Houston. But if I'm in Houston, I have to decide whether I want to spend that money on a QB who might get us a SB in a year or two, versus signing some younger players at other positions who might get us a SB in a year or two and still be around after that to possibly help with more.

It's all going to depend on three things:

1. How committed are the Texans to Schaub2. How healthy is Peyton Manning3. How much does Manning want to return to the SB vs. how much will he want to get his last big pay check.

_________________I will not put on blinders when it comes to our QBs performances.

March 9th, 2012, 10:12 am

Pablo

RIP Killer

Joined: August 6th, 2004, 9:21 amPosts: 9898Location: Dallas

Re: Colts to release Peyton Manning

How about Denver, lets put this Tebow thing to rest for a few years...